The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26 - Manufacture of computer, electronic and optical products
10,000 jobs Number of planned job losses
Announcement Date
22 September 2005
Employment effect (start)
Foreseen end date
Description
Sony the electronics giant has announced plans to cut 10,000 jobs worldwide as part of a restructuring program. Thsee job cuts, represent about 7% of the company's workforce and will be achieved by March 2008. About 4,000 jobs will go in Japan, with the remaining 6,000 cuts overseas, the company has an extensive manufacturing base in Europe and fears are that this will be affected. The company will also close or sell 11 of its 65 manufacturing plants. Sony, which now has its first-ever non-Japanese chairman, has been losing ground to rivals in key sectors. The company that invented the Walkman has been humbled in the portable music market by Apple's iPod, while it has also been caught out by the shift from traditional cathode-ray tube televisions to flat screens.
Sources
22 September 2005: BBC News
Citation
Eurofound (2005), Sony, Internal restructuring in World, factsheet number 62269, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62269.
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